21

Jul

TN to create 19,000 acre Land Bank for Industrial development

Tamil Nadu government would create land bank of 19,000 acres in southern districts for industrial development,besides setting up a Polymer Industries park in Tiruvallur district, Finance Minister O Panneerselvam told the State Assembly Thursday.

Presenting the revised budget estimates for 2016-17 in the StateAssembly, he said the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has been taking all efforts for creating a land bank for industrial development with an area of about 19,000 acres in the nine Southern Districts–Ramanathapuram, Pudukkottai, Dindigul, Sivaganga, Theni, Virudhunagar, Thoothukudi, Tirunelveli and Kanniyakumari.

He said the Madurai-Thoothukudi Industrial Corridor project would help in bringing in an investment of about Rs.25,000 crore with an employment potential for one lakh persons.

He said the SIPCOT has also initiated action for implementing this project by forming a Special Purpose Vehicle called the Madurai-Thoothukudi Industrial Corridor Development Corporation Limited and has expedited the land acquisition process.

The Government was also in the process of developing Ponneri Industrial Node as a National Investment and Manufacturing Zone (NIMZ) under the Chennai-Bengaluru Industrial Corridor Project.

Mr Panneerselvam said the Tamil Nadu Industrial Development Corporation (TIDCO), in association with the SIPCOT, wasestablishing a Polymer Industries Park in about 306 acres area at Ponneri Taluk in Tiruvallur District at a total cost of Rs.294 crore.

”This will accommodate about 84 medium and small scale plastic component manufacturing units”, he added.